South Korea's Political Turmoil: Martial Law Drama Unfolds

South Korean President Yoon Suk Yeol declared martial law, sparking a political crisis. The National Assembly opposed the move, resulting in its reversal. Yoon cited domestic threats but faced backlash over controversial decisions. Financial markets reacted negatively, and political turmoil continues with calls for Yoon's resignation.

In a dramatic turn of events, South Korean President Yoon Suk Yeol declared martial law on Tuesday night, citing threats to the nation's freedom from political opponents. However, just hours later, Yoon reversed his decision, following strong opposition from the National Assembly and public outcry.

The crisis ignited by the declaration marks one of South Korea's most significant political upheavals in decades. The military's brief involvement included a decree to ban protests, place media under control, and restrict political activities. Yet, it was swiftly resisted by lawmakers, including those from Yoon's party.

Financial markets were jolted by the announcement, with the South Korean won plunging to a two-year low. Subsequent political developments, including potential resignations and postponed diplomatic engagements, indicate ongoing instability. The situation remains tense as further protests are anticipated.

(With inputs from agencies.)